Singapore Long-term Care Software Market Size & Outlook
Singapore long-term care software market, 2018-2030 (US$M)
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Singapore long-term care software market highlights
- The Singapore long-term care software market generated a revenue of USD 15.7 million in 2023 and is expected to reach USD 34.1 million by 2030.
- The Singapore market is expected to grow at a CAGR of 11.7% from 2024 to 2030.
- In terms of segment, electronic health records (ehr) was the largest revenue generating application in 2023.
- Electronic Health Records (EHR) is the most lucrative application segment registering the fastest growth during the forecast period.
Long-term care software market data book summary
| Market revenue in 2023 | USD 15.7 million |
| Market revenue in 2030 | USD 34.1 million |
| Growth rate | 11.7% (CAGR from 2023 to 2030) |
| Largest segment | Electronic health records (ehr) |
| Fastest growing segment | Electronic Health Records (EHR) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Electronic Health Records (EHR), Electronic Medication Administration Record (eMAR), Revenue Cycle Management (RCM), Resident Care, Staff Management |
Other key industry trends
- In terms of revenue, Singapore accounted for 0.3% of the global long-term care software market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China long-term care software market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 351.7 million by 2030.
Electronic health records (ehr) was the largest segment with a revenue share of 30.57% in 2023. Horizon Databook has segmented the Singapore long-term care software market based on electronic health records (ehr), electronic medication administration record (emar), revenue cycle management (rcm), resident care, staff management covering the revenue growth of each sub-segment from 2018 to 2030.
The aging population in Singapore presents a growing demand for LTC services, necessitating robust software solutions for efficient management. In addition, the government's strong emphasis on healthcare IT infrastructure and the increasing adoption of technology-driven healthcare services are significant catalysts.
Singapore was among the first countries to adopt digital healthcare technologies in the Asia Pacific. Telemedicine and EHR have been deployed in the country for over a decade. Singapore and Australia have one of the most advanced and largest networks of EHR systems.
The government plans to involve private healthcare clinics and practices in its national EHR program. In line with this, in 2018, it announced an investment of nearly USD 13 billion in a 5-year R&D plan; a major chunk of the investment was aimed toward innovations in healthcare and IT.
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Long-Term Care Software Market Scope
Long-Term Care Software Market Companies
| Name | Profile | # Employees | HQ | Website |
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Singapore long-term care software market size, by application, 2018-2030 (US$M)
Singapore Long-Term Care Software Market Outlook Share, 2023 & 2030 (US$M)
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